TORONTO, Oct. 25, 2021 (GLOBE NEWSWIRE) – October 25, 2021, 2555663 Ontario Limited (“Li-Metal“) carried out a reverse takeover (the”RTO“) Eurotin Inc. (“Eurotin“), Pursuant to the merger agreement, as amended on October 8, 2021 (the”Merger agreement“) between Eurotin, Li-Metal and 2848302 Ontario Inc., a wholly owned subsidiary of Eurotin (“Eurotin Subco“). Following the RTO, Eurotin (following the RTO, the “Resulting emitter“), changed its name to Li-Metal Corp.
At the end of the RTO, Timothy Johnston (“Mr. Johnston‘), A director of the Resulting Issuer, has acquired beneficial ownership both directly and by control or direction through Keperra Holdings Limited (an entity of which Mr. Johnston is the sole shareholder) of 3,132,965 ordinary shares in the capital of the Resulting Issuer (the Resulting Issuer “Ordinary actions“). In addition, Mr. Johnston acquired beneficial ownership, control or management of 281,073 options from the Resulting Issuer to purchase Common Shares (“Options“), And 565,565 warrants of the resulting issuer to purchase ordinary shares (“Mandates“). The aggregate of common shares, options and warrants of which Mr. Johnston has beneficially acquired, control or direction representing approximately 14.20% of the issued and outstanding common shares on an as converted and partially diluted.
Prior to the closing of the RTO, Mr. Johnston did not own or control any common shares, options or warrants.
Mr. Johnston intends to vote in favor of increasing the number of directors on the board, to ensure that the board has a diverse range of skills and expertise.
In accordance with applicable securities laws, Mr. Johnston may, from time to time and at any time, acquire additional common stock and / or other equity, debt or other securities or instruments (collectively, “Securities) Of the Resulting Issuer in the open market or otherwise, and Mr. Johnston reserves the right to dispose of some or all of its Notes in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Notes, all depending on market conditions, the activity and prospects of the Resulting Issuer and other relevant factors.
The resulting transmitter is located at 90 Riviera Drive, Markham, Ontario, L3R 5M1. Mr. Johnston is located at 306-21 Lawren Harris Square, Toronto ON Canada M5A 1H7. A copy of the early warning report to which this press release relates will be available on the resulting issuer’s SEDAR profile at www.sedar.com.
CONTACT: For more information, please contact: Li-Metal Corp. Maciej Jastrzebski, CEO & Director Email: [email protected]